- NGP Sustainable Real Assets, LLC (“NGP SRA”) closes with $500 million in capital commitments from NGP Energy Transition IV, L.P., and co-investors. - NGP SRA focuses on investing in real asset development platforms in clean power, clean fuels, carbon, transportation, and critical minerals. - The strategy combines NGP’s partnership-oriented investing approach with significant capital and expertise dedicated to the energy transition. - NGP SRA aims to deploy an investment model honed over three decades into clean energy subsectors. - NGP has a track record of backing more than 300 development platforms across the energy sector. - NGP SRA targets equity commitments of $50-$150 million per investment and has already closed investments in three platform companies. - The platform companies include Segue Renewables II, Cloverleaf Infrastructure, and CO280 Solutions. - NGP specializes in backing teams and projects early in their lifecycle to build scaled, diversified projects for long-term ownership. - NGP is a private equity firm founded in 1988, focusing on investing in innovation in natural resources and energy transition for a cleaner energy future.

NGP Launches NGP Sustainable Real Assets to Invest in Clean Energy Project Development Platforms:


July 22, 2024 07:00 AM Eastern Daylight Time

DALLAS--(BUSINESS WIRE)--NGP is pleased to announce the closing of NGP Sustainable Real Assets, LLC (“NGP SRA”) with approximately $500 million of capital commitments from NGP’s dedicated energy transition fund, NGP Energy Transition IV, L.P., and co-investors. NGP SRA was formed to invest in real asset development platforms across the energy transition – including clean power, clean fuels, carbon, transportation and critical minerals. NGP SRA invests by partnering with exceptional management teams, often at the earliest stages of company formation, and provides capital and support to help build leading energy transition platforms.

Chris Carter, NGP’s Managing Partner, commented “Our strategy with NGP SRA combines NGP’s 35-year track record of partnership-oriented investing, having backed more than 300 development platforms across the energy sector, with our firm’s significant capital, expertise and resources dedicated to the energy transition. We see a big opportunity to deploy an investment model NGP has honed over the last three decades into these attractive clean energy subsectors.”

Phil Deutch, NGP Partner and Energy Transition Fund Head, remarked “We take great pride in our reputation as value-added partners and trusted sector specialists in energy. More than three decades ago, NGP pioneered the investment model that now dominates traditional energy project development. We are excited to commit our experience and capital to advancing energy transition projects while seeking attractive risk adjusted returns for our investors.”

Sam Stoutner, NGP Partner, added “We continue to see a mismatch between the supply of high-quality, shovel-ready clean energy projects, and the capital to build, finance and own those projects. In NGP SRA, we will focus on backing teams and projects earlier in their lifecycle and working with management to build scaled, diversified, derisked projects and platforms that can ultimately be handed off to lower-cost, longer-term pools of capital.”

NGP SRA has already closed investments in the three platform companies profiled below and continues to evaluate new opportunities to add to its portfolio. NGP SRA generally targets equity commitments of $50-$150 million per investment. To get in touch with the NGP investment team, please contact inquiries@ngpenergy.com.

Segue Renewables II, LLC (Segue)

Segue invests in development-stage energy transition projects and the infrastructure enabling them. Segue provides capital and expertise to originate, de-risk, optimize, and monetize projects. Segue Renewables II is the second partnership between the Segue management team and NGP.

Cloverleaf Infrastructure, LLC (Cloverleaf)

Cloverleaf develops clean-powered, ready-to-build sites for the largest electric loads. Leveraging management’s extensive expertise in the power and data center sectors, Cloverleaf collaborates with regional U.S. utilities and data center operators to deliver scalable clean electricity through strategic investments in transmission, grid interconnection, land, onsite power generation and electricity storage.

CO280 Solutions, Inc. (CO280)

CO280 is the leading developer of Carbon Dioxide Removal projects in the pulp and paper industry. The company partners with pulp and paper companies to develop, finance, own and operate carbon removal projects that deliver a new standard of permanent, verifiable, and affordable carbon removal credits to the voluntary carbon market.

About NGP

NGP is a premier private equity firm that believes energy is essential to progress. Founded in 1988, NGP is moving energy forward by investing in innovation and empowering energy entrepreneurs in natural resources and energy transition. With over $23 billion of cumulative equity commitments, we back portfolio companies focused on responsibly solving and securing the energy needs of today and leading the way to a cleaner, more reliable, and more affordable energy future. For more information, visit www.ngpenergy.com.

Contacts

Sam Stoutner
Partner – NGP
972.432.1440
inquiries@ngpenergy.com